Warning = although this has been edited, it may still offend some people.
Some of Integral's number seem to be incorrect, and we have overlooked the effect of adrenaline ==> superhuman athletic feats.
Let me add here to the advice to get to the top if at all possible. If the elevator crumples to a pancake, you certainly don't want to be inside. One way to get to the top is to take your shoes off and fling them to the floor one at a time. However, if you have time to do that, well, good luck!
I assume Integral is correct to say that most young adults can manage jumps with an initial velocity (feet just leaving the ground) of 2 m/s. I will try 4 m/s just for fun if nothing else.
I also assume the elevator is falling at 5 m/s. I think after reading Integral and from my memory, this is survivable for most people; but the question now is, would jumping make your landing easier?
I assume you have managed to somehow climb onto the elevator's top. You time the jump just before the elevator top comes to a rest, which may be 3 m above the ground, but you are still moving at 5 m/s wrt the ground. This is just before the shock reaches your feet, not like in my last post. (The elevator top might even bounce up a little.) So, wrt the elevator top just before it comes to a stop, which after all is what you will impact with, the position of your head is maybe
y = 1.5 - t - gt^2/2
where t = 0 is the time of maximum velocity, when your legs are almost straight and your feet is still in contact with the elevator top and at zero velocity wrt the elevator. I suspect that is pessmistic, because surely the elevator top will begin to slow down shortly after the elevator bottom hits the ground.
You have been following the thread, so you know at this point that you have to immediately tense your thigh muscles to brace yourself. How much time do you really have? Just 0.2 seconds to recognize that you have successfully timed your jump and to tense your thigh muscles, according to computations from the above equation. At this point, your head would have moved down about 0.4 meters. You can't generate much power in this position in the time left till head impact, which is about 0.3 seconds, so your legs are going to bang against the elevator top. Ouch! You will hold out your hands to break your fall.
I am going to disagree somewhat with Integral. Surely survival of the head takes precedence over that of the limbs. He may have overlooked the point that the head attains maximum velocity while the feet is still in contact with the elevator. The person's center of mass might move less than the head during the jump, besides, which would make a difference in boderline cases.
So in conclusion, well, I don't know about the borderline cases. Maybe jumping will be better, and in other cases maybe not.